ON THE MONEY
Banks are following very di;erent paths to ;nd their mobile innovation comfort zone. Santander’s strategy involves launching a variety of ;nancial apps to
see which ones make the biggest splash with its customer base. For example,
Santander Poland recently developed an app that lets customers buy things such
as concert tickets, transit tickets and pizza, and uses contextual data to recommend other services based on their purchasing history. “It’s important to think
about tying mobile applications to a customer’s ;nancial life in the appropriate
context,” Mr. Leimer says.
In July 2015, Santander UK launched a group money management app called
Ki TTi that lets up to 100 friends create collective pots of money, monitor and
manage transactions, and pay for things using a KiTTi prepaid MasterCard.
Customers of any U.K. bank can download the app, invite their friends, and save
and spend money together. “We are doing a lot of small, stand-alone experi-
ments to see which projects ;t the market,” he says, noting the projects often
have broader uses within Santander’s global footprint. “Banks should be willing
to continually iterate and experiment with their customer-facing applications
to ensure that they keep their customers engaged and are creating additional
Barclays is taking a more targeted approach to mobile banking, making sure
each new mobile project is strategically aligned, will deliver a strong ROI and
can provide a competitive advantage, says Himanshu Warudkar, Barclays’ tech-
nology center director in Pune, India. For example, mobile solutions such as
Barclays Homeowner app help customers search for a property and apply for a
“It gave us a new revenue stream and simpli;ed the home-loan journey,
which was a signi;cant advantage,” he says. And the team was able to measure
these bene;ts by looking at the number of new customers coming through the
app and the increase in home-loan requests. “Understanding the customer’s real
needs and changing the user journey made it a very successful project,” he says.
A MOVING TARGET
Once a new Barclays project is chosen, all of the key stakeholders across IT,
legal, compliance, ;nance, marketing and information security come together
to review the project plan and identify any risks that need to be addressed, Mr.
Warudkar says. He calls this meeting “Sprint Zero.”
“It is a core part of our agile process, to make sure everyone is agreed on
the goals from the beginning to drive the project forward,” he says. “Our aim
is ‘no surprises.’”
For instance, bringing marketing onboard during the planning phase gives the
team ample time to understand the app’s real-world value and create an e;ec-
tive campaign that will encourage early adoption.
“It’s very important that customers adopt the tool quickly once it is in the
marketplace so that we can start driving revenue and measuring its impact,”
Mr. Warudkar says.
To shorten delivery times, the design and development teams often work
financial life in
—Bradley Leimer, Santander
Bank, San Francisco,